Flat 6, Platinum Apartments, 69, Lower Road, KENLEY, Surrey

Description

Leasehold ground floor flat. Upon Instruction of AMG.

Accommodation

Two bedrooms, reception room open plan to kitchen, bathroom/wc.

Location

The property is located on Lower Road. Shopping amenities are available locally within Kenley, with a further range of shops, bars and restaurants found within Croydon and Central London. Public transport links are available at Kenley Train Station and via local bus services. Road links include the A22 to the east and the A23 to the west. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

The most relevant evidence is a 2025 completed sale at the same development for £250,000. Other same-development sales range from £225,100 to £317,500, but the sales may relate to different flats and vary in date and specification. A base GDV of £250,000 is therefore used, with £225,100 as a low scenario and £317,500 as a high historical scenario. Lease length, service charge, ground rent and review terms remain unknown and could materially affect value and mortgageability.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease, service charge, ground rent, lease term, special conditions and any seller charges. Subject to satisfactory lease documentation, the advertised rent suggests potential BTL appeal, but the evidence is insufficient to justify an unconditional bid or refurbishment-led strategy.

Works Required

No physical defects or refurbishment requirements are stated. Allow for inspection, cleaning and any minor maintenance only if identified, but no supported works budget can be established. The lease, service charge and ground rent documentation require review before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £250,000 base GDV, 75% refinance is approximately £187,500, only £5,500 above the guide before the £1,800 documentation fee and any works, legal, finance or seller charges. Cash-left-in cannot be calculated reliably because the lease liabilities, total acquisition costs and works allowance are unknown. Mortgageability may also depend on the unconfirmed lease term and ground rent provisions.

Buy-to-Let Analysis

The advertised rental evidence is £1,550 pcm, producing annual advertised rent of £18,600 and a gross yield of approximately 10.22% against the £182,000 guide. This is based on an asking rent, not achieved rent, and excludes service charge, ground rent, voids, management, repairs, finance and tax. The unknown lease and building charges prevent a reliable net-yield assessment.

Flip Analysis

Using the £250,000 base GDV, the apparent spread over the £182,000 guide is £68,000 before the £1,800 documentation fee, selling costs, legal costs, finance, taxes and any works. A reliable flip surplus cannot be established because the full acquisition and project costs and any seller charges are not supplied.

Investor Risks & Due Diligence

• Lease length is not supplied and may affect value, lending and resaleability.

• Annual service charge, ground rent and review provisions are unknown.

• The £1,550 pcm figure is an advertised asking rent rather than achieved rent.

• The same-development sales may relate to different flats with different specifications.

• Seller fees may be payable under the special conditions but are not supplied.

• No condition report or refurbishment budget is provided.

• Finance, legal, tax, void, management and selling costs are not included in the headline yield or guide-price comparison.

Recommendation

Proceed only after reviewing the lease, service charge, ground rent, lease term, special conditions and any seller charges. Subject to satisfactory lease documentation, the advertised rent suggests potential BTL appeal, but the evidence is insufficient to justify an unconditional bid or refurbishment-led strategy.

Strategy Rating

Analysis Confidence

Same-development completed sales and one advertised rental are available, but the exact comparable flat details, lease terms, service charge, ground rent, condition, total acquisition costs and seller charges are incomplete.